Pier Capital LLC Has $9.70 Million Stock Position in Q2 Holdings, Inc. (NYSE:QTWO)

Pier Capital LLC boosted its position in Q2 Holdings, Inc. (NYSE:QTWO) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,572 shares of the technology company’s stock after buying an additional 164 shares during the quarter. Q2 makes up about 1.4% of Pier Capital LLC’s holdings, making the stock its 11th biggest position. Pier Capital LLC’s holdings in Q2 were worth $9,698,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of QTWO. American Century Companies Inc. raised its position in shares of Q2 by 5,990.6% during the 2nd quarter. American Century Companies Inc. now owns 1,210,143 shares of the technology company’s stock valued at $73,008,000 after acquiring an additional 1,190,274 shares during the last quarter. Perpetual Ltd bought a new position in shares of Q2 during the 3rd quarter worth approximately $80,788,000. Venturi Wealth Management LLC increased its position in shares of Q2 by 139.5% in the third quarter. Venturi Wealth Management LLC now owns 608,721 shares of the technology company’s stock valued at $48,558,000 after acquiring an additional 354,524 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Q2 in the 2nd quarter valued at about $13,490,000. Finally, Renaissance Technologies LLC lifted its holdings in Q2 by 171.6% during the 2nd quarter. Renaissance Technologies LLC now owns 204,000 shares of the technology company’s stock valued at $12,307,000 after purchasing an additional 128,900 shares during the last quarter.

Insider Buying and Selling

In other news, CRO Michael A. Volanoski sold 1,428 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.93, for a total value of $102,716.04. Following the sale, the executive now directly owns 227,672 shares of the company’s stock, valued at $16,376,446.96. The trade was a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Offerdahl sold 548 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total value of $57,512.60. Following the transaction, the director now directly owns 18,241 shares of the company’s stock, valued at approximately $1,914,392.95. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,493 shares of company stock valued at $196,863 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on QTWO shares. Citigroup cut Q2 from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $72.00 to $90.00 in a report on Friday, October 18th. Piper Sandler lifted their target price on shares of Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley increased their price objective on Q2 from $65.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on Q2 from $86.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, DA Davidson raised their price objective on Q2 from $76.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Q2 Price Performance

Shares of NYSE QTWO opened at $110.85 on Friday. The stock has a market capitalization of $6.70 billion, a P/E ratio of -115.47 and a beta of 1.60. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.50 and a quick ratio of 2.50. The company’s 50-day moving average is $91.90 and its 200 day moving average is $75.85. Q2 Holdings, Inc. has a 1 year low of $36.96 and a 1 year high of $112.82.

About Q2

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.